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vf_investment
Jan 18, 2023 1:22 PM

ETHUSD - Overbought - Bearish Divergence Short

Ethereum / U.S. dollarBitstamp

Description

On the 4h-timeframe (left chart) chart of Ethereum (ETHUSD) we can see bearish regular divergence has appeared. Divergence is a strong indication that the price will move in the opposite direction. This chart is showing that it is likely for the price to drop.

On the 1d-timeframe (right chart) of Ethereum (ETHUSD) we can see an overbought condition. The three indicators are all suggesting this condition and it is likely for the price to drop. The three indicators used are the Bollinger Bands, RSI, and the Stochastics.

There are two indications on different timeframes and are complementary to each other and suggest that the price will drop.

All further details are shown on the charts.

Good luck!

Trade active

1440 $ is a take profit level
Comments
jmancharts
Let’s see how accurate your call will be. Thanks for the post
TradingBrokersView
Really like the statements you pointed out, looking solid as always. Thank you for sharing!
CryptoCheck-
Also thinks it's oversold. Thanks!
CryptoCheck-
@CryptoCheck- meant overbought * thanks
Yelli_trades
I like your idea!
Williamforex
Great idea
Tradersweekly
Thank you for your chart. We have very similar view.
Gold-Tech
Good look at the market. Competent analysis.
RLinda
Thanks, keep up the good work) Love your analysis
Yelli_trades
Gi, i have similar oponion
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